CBO Grossly Underestimates Costs of Cap and Trade
On Friday, Democrats are going to try to force the Waxman-Markey climate change bill to a vote.
From Heritage:
Last week, the Congressional Budget Office released their analysis of the Waxman-Markey climate change bill that had proponents of the bill claiming we could save the planet for just $175 per household. That was the figure CBO estimated cap and trade would cost households in 2020, which “includes the cost of restructuring the production and use of energy and of payments made to foreign entities under the program, but it does not include the economic benefits and other benefits of the reduction in greenhouse gas emissions and the associated slowing of climate change.”
175 per household? BS.
Actual estimate is 3750.00 per household of four – in the first TWO years.
Those who claim “only” 1350.00 per household are “estimating” a “return” (savings) from unspecified and unsupported “energy savings” that somehow magically reduces the cost from the original 3750.0 down to “only” the 1350.00 dollars.
175.00 is a simple lie.